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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Statutory Federal Rate and Effective Rate for Operations

A reconciliation of the statutory federal rate and the effective rate, for operations, is as follows for the years ended March 31, 2024 and 2023 (in thousands, except percentages):

	March 31, 2024							March 31, 2023
Tax computed at federal statutory rate	$	(3,081	)		21	%		$	(3,624	)	21%
State income tax, net of federal benefit		(110	)		0.7	%			(44	)	0.2%
Stock-based compensation		721			-4.9	%			167		-1%
Research credits		—			0	%			60		-0.4%
Change in tax rate		(62	)		0.4	%			157		-0.9%
Removal of net operating losses and research development credits		1,910			-13	%			1,410		-8.2%
Uncertain tax positions		111			-0.8	%			—			0	%
Other		(16	)		0.2	%			1		0%
Valuation allowance		527			-3.6	%			1,873		-10.7%
Provision (benefit) for income taxes	$	—		0.0%				$	—		0.0%

Summary of Net Deferred Tax Assets

Significant components of the Company’s net deferred tax assets are as follows as of March 31, 2024 and 2023 (in thousands, except percentages):

	March 31, 2024				March 31, 2023
Deferred tax assets:
Amortization	$	593			$	598
Section 174 R&D capitalization		1,793				855
Accrued expenses and reserves		105				116
Operating lease liability		307				384
Stock-based compensation		315				755
Inventory		259				251
Other, net		4				3
Total deferred tax assets		3,376				2,962
Valuation allowance		(2,983	)			(2,458	)
Net deferred tax assets	$	393			$	504
Deferred tax liabilities:
Operating lease right-of-use assets		(286	)			(363	)
Depreciation		(107	)			(135	)
Investment in equity securities		—				(6	)
Total deferred tax liabilities	$	(393	)		$	(504	)
	$	—			$	—

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- References

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

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